Insider Selling: Entrada Therapeutics (NASDAQ:TRDA) Director Sells 200,000 Shares of Stock

Entrada Therapeutics, Inc. (NASDAQ:TRDA) Director Kush Parmar sold 200,000 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $8.80, for a total value of $1,760,000.00. Following the sale, the director directly owned 2,963,066 shares of the company’s stock, valued at $26,074,980.80. This represents a 6.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Entrada Therapeutics Stock Performance

Entrada Therapeutics stock traded up $0.35 on Tuesday, reaching $8.82. The company’s stock had a trading volume of 330,970 shares, compared to its average volume of 187,747. The business’s fifty day moving average price is $6.30 and its 200 day moving average price is $6.66. The company has a market cap of $337.10 million, a price-to-earnings ratio of -3.54 and a beta of -0.09. Entrada Therapeutics, Inc. has a twelve month low of $4.93 and a twelve month high of $21.79.

Entrada Therapeutics (NASDAQ:TRDA) last announced its earnings results on Thursday, November 6th. The company reported ($1.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.04) by ($0.02). The business had revenue of $1.61 million during the quarter, compared to analyst estimates of $8.62 million. Entrada Therapeutics had a negative net margin of 168.16% and a negative return on equity of 26.42%. As a group, equities analysts forecast that Entrada Therapeutics, Inc. will post 1.12 earnings per share for the current year.

Wall Street Analyst Weigh In

TRDA has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Entrada Therapeutics in a research note on Wednesday, October 8th. Zacks Research upgraded shares of Entrada Therapeutics to a “hold” rating in a research report on Friday, August 8th. Roth Capital set a $13.00 price objective on Entrada Therapeutics in a report on Thursday, November 6th. Finally, Wall Street Zen lowered Entrada Therapeutics from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.67.

Hedge Funds Weigh In On Entrada Therapeutics

Several institutional investors have recently modified their holdings of the business. Russell Investments Group Ltd. increased its stake in Entrada Therapeutics by 72.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 8,808 shares of the company’s stock worth $51,000 after purchasing an additional 3,707 shares in the last quarter. State of Wyoming boosted its holdings in shares of Entrada Therapeutics by 130.9% in the second quarter. State of Wyoming now owns 7,575 shares of the company’s stock valued at $51,000 after buying an additional 4,295 shares during the period. AXQ Capital LP bought a new stake in shares of Entrada Therapeutics during the third quarter worth $67,000. Occudo Quantitative Strategies LP bought a new stake in shares of Entrada Therapeutics during the second quarter worth $68,000. Finally, Inscription Capital LLC acquired a new stake in shares of Entrada Therapeutics during the third quarter worth $69,000. Institutional investors own 86.39% of the company’s stock.

Entrada Therapeutics Company Profile

Entrada Therapeutics, Inc, a clinical-stage biotechnology company, develops endosomal escape vehicle (EEV) therapeutics for the treatment of multiple neuromuscular diseases. Its EEV platform develops a portfolio of oligonucleotide, antibody, and enzyme-based programs. Its therapeutic candidates, which include ENTR-601-44, which is in Phase I clinical trial for the treatment of Duchenne muscular dystrophy; and ENTR-701, which is in Phase 1/2 clinical trial for the treatment of myotonic dystrophy type 1.